Debt-laden MEP Infrastructure Developers (MIDL) is seeking shareholder approval to bring in a new investor into the company, who will infuse ₹225 crore under the pre-packaged insolvency resolution process (PPIRP) that will allow the company to recoup the delays in payments and standardise the account which is currently classified as a non-performing asset, the Economic Times of India reported. The PPIRP was introduced for micro, small and medium enterprises or MSMEs in 2021.

The number of cases admitted for the corporate insolvency resolution process (CIRP) has risen 18% year-on-year to 7,325 as of December 2023, from 6,199 cases as of December 2022, according to the latest data from the Insolvency and Bankruptcy Board of India (IBBI), the Financial Express reported. However, there has been a sequential decline in new admissions for the CIRP, with 244 cases being admitted in the third quarter of the current fiscal year, down from 250 cases in the second quarter.

The National Company Law Tribunal (NCLT) has ordered initiation of corporate insolvency resolution process against real estate special purpose vehicle (SPV) Sankalp Siddhi Developers, the Economic Times of India reported. The SPV was promoted by Ahuja Hive, now known as Hive Carbon-Zero Developers, for the development of a project in Mumbai's Jogeshwari suburb, and has been controlled and managed by Chinese group Fosun since 2022.

Japan's core consumer inflation slowed for a third straight month in January but beat forecasts and held at the central bank's 2% target, keeping alive expectations it will end negative interest rates by April, Reuters reported. The 2.0% gain in the core consumer prices index (CPI) was slower than the 2.3% increase in December, internal affairs and communications ministry data showed on Tuesday, underscoring views waning cost-push inflation from commodity imports could ease the pain of higher living costs.

Indian airline Go First has received two financial bids as part of its bankruptcy process, two bankers who attended a meeting of the airline's creditors said on Saturday, the Hindustan Times reported. Managing director of Spicejet Ajay Singh, along with Busy Bee Airways, jointly submitted a bid of 16 billion rupees ($193.10 million) for the airline. Another financial bid was submitted by Sharjah-based Sky One Airways, but its amount wasn't disclosed.

The bankruptcy court in Mumbai is likely to pronounce its ruling on Tuesday in an application filed by the administrator of Reliance Capital Ltd to approve the company’s acquisition by IndusInd International Holdings Ltd through the insolvency resolution process, the Economic Times of India reported. The division bench of Justice Virendra Singh Bisht and a technical member Prabhat Kumar is expected to pronounce its ruling on the approval plan of the Hinduja group-owned IndusInd International Holdings.

China's securities regulator said on Friday it would mete out increasingly tough penalties on fraudulent listings, accounting scams and misappropriation of funds by big shareholders, as part of a crackdown to boost confidence in the stock market, Reuters reported. In its first news conference since the appointment of a new chairman, the China Securities Regulatory Commission (CSRC) also said it would target insider trading and market manipulation more precisely, removing regulatory blind spots.

The U.S. and China are discussing new measures to prevent a wave of emerging market sovereign defaults, one of the most significant attempts in years at economic cooperation between the rival superpowers, Bloomberg News reported. The talks — including ways to preemptively extend loan periods before countries miss payments — are broadly aimed at both easing the $400 billion-plus annual debt service burden for poor countries and finding an alternative to the high borrowing rates those nations now face in the market.

The number of foreclosed properties for sale in China rose at a faster pace in January, in a sign of the country’s continued economic slowdown, Bloomberg News reported. New listings of foreclosed properties nationwide rose 48% in January from a year earlier, compared with 37% in 2023, according to a report by real estate agency China Index Holdings published Thursday. The 100,400 properties listed for sale last month include residential, commercial and industrial real estate. Transactions in January also rose about 18% on-year.

As the annual meeting of China's parliament approaches next month, its leaders are facing the greatest pressure in almost a decade to take bold policy decisions that safeguard the economy's long-term growth potential, Reuters reported. The start of the year saw Chinese stocks tumbling to five-year lows on growth concerns and deflation deepening to levels unseen since the global financial crisis, prompting comparisons with the 2015 turmoil that forced policymakers into action.